Athens hotels recorded an occupancy rate of 78% in 2024 (an increase of 2.3% compared to 2023), an average room rate (ADR) of 149.26 euros (an increase of 8.9% compared to 2023) and a revenue per available room (Rev Par) of 116.48 euros (an increase of 11.4% compared to 2023).
As noted in a relevant announcement of the Athens-Attica and Argosaronic Hotel Association, the last two months (November-December) for Athens hotels compared to the corresponding months of 2023 gave an average occupancy rate of 73.8% in November (Marathon month) and 61.5% in December, an increase in the average room rate (ADR) by 7.9% and 14.6%, respectively and an increase in revenue per available room (Rev Par) of 13.7% in November and 24.7% in December.
Compared to the performance of Athens' competitor cities, on a year-on-year basis, Athens hotels performed quite well: average occupancy in the European benchmark cities ranged between 69.2% (i.e., Istanbul, which recorded a 7.3% decrease compared to 2023) and 81% (London). However, Madrid (+13.7%), Rome (+10.5%), and Barcelona (+9.7%) also saw an increase in occupancy. In terms of average room rate (ADR), comparing the average price of Athens in the 12 months of 2024 against the same period in 2023, we observe an increase for Athens by 8.9%, for Madrid by 14%, for Barcelona by 7.7%, for Rome by 2%, while Istanbul decreased by 6%. Similarly, in revenue per available room (Rev Par) in the 12 months there was an increase of 11.4% in Athens, 19% for Madrid, 7% for Barcelona, and 3.1% for Rome, while in Istanbul it was at similar levels (+0.4%).
Interesting are the variations recorded in particular in the average hotel occupancy rate (from 52.9% to 92.6%) throughout 2024. Specifically, an improvement was observed in the lateral months, from 1.5% (March) to 14.2% (February), indicating the city's dynamics throughout the year and verifying its slow but steady evolution into a 'city break' destination—a decades-long target for Athens.
On the contrary, a negative sign appeared during the traditional peak months (May-June) as well as during the summer months up to September 2024, in the range of (-)1.2% to (-2.7%) compared to 2023, which is attributed to the accommodation of visitors during this period in other accommodation outside the hotel, such as short-term rental accommodation and rooms/apartments to let.
In this regard, on the occasion of the publication of Law 5170/2025, EXAAA stresses that the relevant bill of the Ministry of Tourism ("Establishment of specifications for short-term rental properties, environmental classification of accommodation, simplification of the procedure for the establishment of tourism businesses and special provisions for the control and strengthening of the framework of tourism infrastructure") which was recently passed in the plenary session of the Parliament, indeed includes several provisions aimed at offering higher quality hospitality, especially in short-term rental properties - as it establishes certain basic standards, both functional and safety of the guests-tenants (cf. e.g. civil liability).
"Although the entry into force of the provisions for short-term rental properties from 1 October 2025 allows these accommodations to operate 'as is' for another season, it certainly lays the foundations for their compliance with a number of minimum standards, as well as for controls on the implementation of these standards on the part of the state. At the same time, we cannot fail to welcome, among other regulations, the 'classification system for hotels based on their environmental performance' (i.e., optionally also for non-main tourist accommodation), which is an innovative synergy between the Hellenic Chamber of Hotels and the Technical Chamber of Greece. We are optimistic that through these, as well as other provisions contained in the law, a good new—and'sustainable'—beginning' is being launched for the tourism infrastructure in Athens, worthy of its historical and cultural identity, its tourism dynamics and its popularity. On the other hand, we have to point out that we need—and we will insist on demanding—stricter measures on short-term rentals, which has grown asymmetrically and uncontrollably in recent years in Attica, reaching 137,499 beds (source: XEE/ITEP research ""Hotel Capacity and Short-Term Rental Accommodation—SeptemberH 2024"), fully understanding the necessity of these measures for our city and its residents," says EXAAA in its statement.
"The limitation of the days of tourist use of properties of this type, their reduction in number per municipal district and per AFM active in short-term rentals, as well as a number of additional regulations are considered necessary, as they are based on studies and data that highlight the magnitude of the issue," it concludes.
